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CPA Versus Tax Preparer: What’s the Difference?

Summit CPA

The requirements are minimal: In order to obtain a PTIN, the applicant must verify with the IRS that they are in compliance with their own taxes and pay a small yearly fee ($19.74 While the IRS encourages non-credentialed tax preparers to increase their knowledge through continuing education, doing so is optional.

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Top Remote Accountants of the Week | November 7, 2024

Going Concern

The post Top Remote Accountants of the Week | November 7, 2024 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.

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IRS Provides Relief to Taxpayers Impacted by Hurricane Helene

Withum

Taxpayers located outside a declared area but maintain records, principal place of business, or accountants inside a covered disaster area must self-identify for disaster relief by calling the Disaster Assistance Hotline at 866-562-5227. Does disaster relief apply to a taxpayer that is not in a disaster area, but the tax preparer is?

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Dumbass Take of the Day: This Guy

Going Concern

Who else remembers when they said TurboTax would put tax preparers completely out of business? Tax preparers are still waiting.

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Survey: Over Half of Accounting Firms Plan to Increase Fees in 2025

CPA Practice

A new report from practice management software provider Ignition says rising business costs are driving fee increases at accounting firms, with 57% planning to raise fees across all services next year. The 2024 U.S. 90% plan to increase fees for individual tax returns. 87% plan to increase fees for business tax returns.

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Small Business Tax Deductions 101: What You Can (and Can’t) Write Off

inDinero Accounting

As we delve into the specifics, remember that tax laws are as dynamic as the business world itself. What applied last year might not hold true for 2024. Table of Contents What Is a Small Business Tax Deduction and How Does It Work? In other words, deductions lower taxable income before taxes are applied, not after.

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When are taxes due in 2024?

inDinero Tax Tips

Due dates for business taxes can change from year to year based on a variety of factors, including weekends and federal holidays. So, if you’re wondering when are taxes due in 2024, you’re asking the right question at the right time. All Organizations January 16th, 2024: Fourth Quarter Estimated Tax Payments.

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